The Indian stock market index, NIFTY, opened with a gap up of 68 points at 17427.95, but soon started to decline after hitting its intraday high at 17428.05. The index filled the gap and found support above 17300, after which it started to climb back up. In the second half, NIFTY experienced a modest rally and closed in positive territory at 17398.05, gaining 0.22%. The AUTO sector outperformed with a gain of 1.49%, while sectors such as REALTY, BANK, and FINANCIAL performed well but others like FMCG, IT, METAL, and OIL GAS ended with a loss. The NIFTY index has recently experienced a breakout from a trading range within the 16850-17200 levels, resulting in a short-term upward trend with a pattern target of around 17550. However, support at 17000 and resistance at 17500 remain evident, meaning that buying opportunities should only be considered while the index is above the 17000 level. Previously, the index was exhibiting a bearish pattern of lower highs and lower lows, but this has halted with prices now surpassing the previous swing high and swing low. It remains to be seen whether the index will enter a consolidation phase or a reversal in the coming days.


The BANK NIFTY opened with a gap up of 93 points, but couldn’t sustain the higher levels and began to drift downwards. However, the index found support, consolidated, and broke out on the upside after hitting an intraday low of 40535.90. The rest of the day saw modest gains with an intraday high of 40857.60 and a closing gain of 213 points at 40815.10. PSU and PVT BANK indices both performed similarly, closing higher by 1.06% and 0.76%, respectively. ICICI BANK contributed the most on the upside while AU BANK contributed the least. With a stop at 40400 and a target at 41400, the long position taken at 40475 remained intact and should be maintained with a raised stop since it is currently in profit. The BANK NIFTY started the new financial year with gains, but the intraday movement was narrow, moving within a range of just 375 points. As long as the index is above the 40000 level, buying opportunities should be considered since the short-term trend is up.


AMBUJA CEM 374.80 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 375 with a stop loss of 371 and a target of 382.
ITC 378.90 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 378.45 with a stop loss of 381.45 and a target of 372.45.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DABUR   550 CE BUY 8.75 CMP 6.60 14 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GMRINFRA.23.04 Apr 43.7 7.37 10.75 129082500 MGL.23.04 Apr 927.45 -6.01 31.72 2780800
BANDHANBNK.23.04 Apr 205.5 4.31 2.2 50063400 HINDPETRO.23.04 Apr 226.9 -4.82 6.07 20336400
LAURUSLABS.23.04 Apr 306.65 3.88 2.98 11222200 BPCL.23.04 Apr 331.55 -4.37 1.2 13698000
INTELLECT.23.04 Apr 427.8 3.47 0.14 4273000 DEEPAKNTR.23.04 Apr 1807.35 -2.42 9.34 1686250
BALRAMCHIN.23.04 Apr 410 3.02 18.99 6046400 MIDCPNIFTY.23.04 Apr 6829.95 -2.32 0 75
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.23.04 Apr 6.2 5.08 -0.83 484330000 IGL.23.04 Apr 422.2 -2.16 -1.3 10978000
IEX.23.04 Apr 134.65 4.46 -4.06 42626250 CUMMINSIND.23.04 Apr 1609.8 -1.86 -1.34 2554200
DELTACORP.23.04 Apr 188.8 3.79 -1.21 16279200 ADANIENT.23.04 Apr 1728.9 -1.73 -27.32 7824500
GNFC.23.04 Apr 530.9 3.44 -2.13 7294300 PIIND.23.04 Apr 2991.95 -1.72 -0.25 2080750
HEROMOTOCO.23.04 Apr 2440.2 3.27 -0.76 2656500 NAVINFLUOR.23.04 Apr 4226.75 -1.17 -0.77 407550


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Marico Limited 479.7 -0.02 1368272 1295432 78.24 Nifty50 17398.05 0.22 25755096
Bharti Airtel Limited 760.55 1.54 2120667 4502020 77.67 Niftybank 40813.05 0.5 10993394
Bharat Petroleum Ltd 329.95 -4.17 9432372 3890112 76.75 Nifty it 28633 -0.23 727811
Hindustan Unilever Ltd 2536.1 -0.95 918048 1629914 75.95 India Vix 12.58 -2.78 3.48E+08
Icici Lombard General In 1079.7 0.95 839450 586569 73.91 Nifty Fmcg 45738.45 -0.36 326765
Dabur India Ltd. 547.6 0.5 2436530 993935 73.02 Nifty Pharma 12067.95 0.42 37138677
Balkrishna Ind. Ltd 1943.8 -0.39 149416 194962 72.83 Nifty Realty 390.85 0.9 1.15E+09
Asian Paints Limited 2777 0.56 1035295 1426542 72.49 Nifty Auto 12425.85 1.49 36116698
Infosys Limited 1410.85 -1.2 5242764 6312000 72.45 Nifty Metal 5477.85 -0.36 81528336
Petronet Lng Limited 233.8 2.16 4265532 2107216 72.04 Nifty Financial Services 18164.75 0.59 5877057


   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Mar) on 05th April, 2023

INR: Interest Rate Decision on 06th April, 2023

 USD: JOLTs Job Openings (Feb) on 05th April, 2023

USD: ADP Nonfarm Employment Change (Mar) on 05th April, 2023


  • Benchmark indices ended marginally higher in the volatile session on April 3. The Sensex was up 114.92 points or 0.19% at 59,106.44, and the Nifty was up 38.20 points or 0.22% at 17,398. About 2692 shares advanced, 846 shares declined, and 121 shares unchanged.

  • An Adani Group joint venture with EdgeConneX is in talks with about half a dozen banks for a loan of about $220 million, which would be the conglomerate’s first offshore borrowing since it was targeted by shortseller Hindenburg Research.

  • An unexpectedly large fall in India’s current account deficit (CAD) in October-December, coupled with a sharp downward revision in the July-September figure, has led economists to see a much more positive outturn for India’s external balance for this year as well as the next.

  • Government has cut windfall tax on crude oil production to nil from 3,500 rupees ($42.56) per tonne effective from Tuesday, according to a government notification. The windfall tax on diesel has been slashed to Rs 0.5 per litre from Re 1 per litre earlier. There is no windfall tax on petroleum and ATF.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
BANDARAM General 05-Apr-23 DHANFAB General 08-Apr-23
ORIENTTR General 05-Apr-23 RUSHIL General;Rights Issue 08-Apr-23
PBAINFRA General 05-Apr-23 SACHEMT Preferential Issue of shares 08-Apr-23
PUNJCOMMU General 05-Apr-23 SICAPIT General 08-Apr-23
SHUKRAPHAR General 05-Apr-23 EIDPARRY Interim Dividend 10-Apr-23
AML General 06-Apr-23 INDITALIA General;Quarterly Results 10-Apr-23
FILME Quarterly Results 06-Apr-23 MAGNUM General 10-Apr-23
GMBREW Audited Results;Final Dividend 06-Apr-23 MPL General 10-Apr-23
GSLSU General 06-Apr-23 PRECAM General 10-Apr-23
INFRATRUST General 06-Apr-23 SIPIND General 10-Apr-23
LOKESHMACH Issue Of Warrants;General;Preferential Issue of shares 06-Apr-23 JAIMATAG Audited Results 11-Apr-23
MANGASOF General 06-Apr-23 ANANDRATHI Audited Results;Final Dividend 12-Apr-23
MUTHOOTFIN Interim Dividend 06-Apr-23 NESTLEIND Interim Dividend 12-Apr-23
PRERINFRA Right Issue of Equity Shares;General 06-Apr-23 TCS Audited Results;Final Dividend 12-Apr-23
ROSEMER General 06-Apr-23 AVANTEL Audited Results;Final Dividend 13-Apr-23
SDBL Right Issue of Equity Shares;General 06-Apr-23 INFY Audited Results;Final Dividend 13-Apr-23
METALFORGE Quarterly Results 07-Apr-23 HDFCBANK Audited Results 15-Apr-23
STRATMONT General 07-Apr-23 ANGELONE Audited Results;Quarterly Results 17-Apr-23
THYROCARE Interim Dividend 07-Apr-23 ICICIGI Audited Results;Final Dividend 18-Apr-23
TRIVIKRAMA General 07-Apr-23 TATACOFFEE Audited Results;Dividend 18-Apr-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
PNBHOUSING 05-Apr-23 Right Issue of Equity Shares DHAMPURSUG 18-Apr-23 Interim Dividend – Rs. – 5.0000
SKCIL 05-Apr-23 E.G.M. DHAMPURSUG 18-Apr-23 Special Dividend – Rs. – 1.0000
GHCL 06-Apr-23 Spin Off MUTHOOTFIN 18-Apr-23 Interim Dividend
RVNL 06-Apr-23 Interim Dividend – Rs. – 1.7700 CORNE 20-Apr-23 E.G.M.
SHREESEC 06-Apr-23 Stock  Split From Rs.10/- to Rs.1/- HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
VEDL 06-Apr-23 Interim Dividend – Rs. – 20.5000 JETINFRA 21-Apr-23 Bonus issue 1:1
DEEPIND 10-Apr-23 Stock  Split From Rs.10/- to Rs.5/- KAARYAFSL 21-Apr-23 E.G.M.
EARUM 10-Apr-23 Right Issue of Equity Shares NESTLEIND 21-Apr-23 Interim Dividend
SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000 NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
EMAMILTD 12-Apr-23 Buy Back of Shares TIPSINDLTD 21-Apr-23 Stock  Split From Rs.10/- to Rs.1/-
ESARIND 12-Apr-23 E.G.M. ACHYUT 25-Apr-23 Bonus issue 1:2
INFRATRUST 12-Apr-23 Income Distribution (InvIT) VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
VBL 12-Apr-23 Final Dividend – Rs. – 1.0000 ABB 27-Apr-23 Dividend – Rs. – 5.5000
VISAKAIND 12-Apr-23 Interim Dividend – Rs. – 7.0000 HCLTECH 28-Apr-23 Interim Dividend
BRITANNIA 13-Apr-23 Interim Dividend JOSTS 28-Apr-23 Stock  Split From Rs.5/- to Rs.2/-
EDELWEISS 13-Apr-23 Interim Dividend – Rs. – 0.2500 KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
GOODLUCK 13-Apr-23 Interim Dividend – Rs. – 2.0000 SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000
IZMO 13-Apr-23 E.G.M. SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000
MUFIN 13-Apr-23 Stock  Split From Rs.2/- to Rs.1/- CASTROLIND 04-May-23 Final Dividend – Rs. – 3.5000
FLOMIC 17-Apr-23 E.G.M. RCL 31-May-23 Stock  Split From Rs.10/- to Rs.1/-

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